Total amount raised
$5.3 Billions
Latest funding date
Location
Title
Lyft has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company continues to innovate in the transportation sector, offering a range of services from ride-sharing to bike and scooter rentals.
Keep reading to explore the intricacies of Lyft's fundraising journey and the investors backing this dynamic platform.
What Is Lyft?
Lyft, founded on May 22, 2012, in San Francisco, California, is a transportation company that connects drivers with passengers through a mobile application. The app facilitates ride requests, payments, and scheduling rides up to seven days in advance.
Founded by John Zimmer, Logan Green, and Matt Van Horn, Lyft primarily serves college, university, and corporate communities. The company offers a range of ride options, including budget-friendly, eco-friendly, and luxury rides.
With a workforce of 5001-10000 employees, Lyft continues to innovate in the transportation sector, providing opportunities for drivers to earn money on their own schedule and offering business solutions and accessibility programs to make transportation more inclusive.
How Much Funding Has Lyft Raised?
- Post-IPO Debt
- Amount Raised: $400M
- Date: February 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage debt and support ongoing operations.
- Post-IPO Equity
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial position post-IPO.
- Secondary Market
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Secondary Market
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To offer liquidity options for stakeholders.
- Series I
- Amount Raised: $600M
- Date: June 2018
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and market reach.
- Corporate Round
- Amount Raised: $200M
- Date: March 2018
- Lead Investors: Magna International
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop autonomous vehicle technology.
- Series H
- Amount Raised: $1.1M
- Date: December 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and growth.
- Series H
- Amount Raised: $500M
- Date: December 2017
- Lead Investors: CapitalG, Rakuten
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and technological capabilities.
- Series H
- Amount Raised: $1B
- Date: October 2017
- Lead Investors: CapitalG
- Valuation at Round: $11B
- Motivation Behind the Round: To enhance market position and invest in self-driving technology.
- Secondary Market
- Date: September 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
Lyft has raised a total of $2.7B in funding. The most recent valuation is $11B.
Key Investors
- CapitalG
- Details: CapitalG is Alphabet's growth-focused investment fund. David Lawee, a partner at CapitalG, joined Lyft's board as part of their investment.
- Investment Focus Areas: Technology, innovative companies, growth-stage investments.
- Notable Investments: Uber, Airbnb, Stripe.
- Fidelity
- Details: Fidelity Investments is a multinational financial services corporation. It is one of the largest asset managers in the world.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: SpaceX, Uber, Palantir Technologies.
- Magna International
- Details: Magna International is a Canadian mobility technology company for automakers. It is one of the largest automotive suppliers in the world.
- Investment Focus Areas: Automotive, mobility technology, manufacturing.
- Notable Investments: Waymo, Innoviz Technologies, Lyft.
- Rakuten
- Details: Rakuten is a Japanese electronic commerce and online retailing company. It operates Japan's largest e-commerce site and is expanding globally.
- Investment Focus Areas: E-commerce, fintech, digital content.
- Notable Investments: Pinterest, Lyft, Cabify.
- BluePointe Ventures
- Details: BluePointe Ventures is a venture capital firm. It focuses on early-stage investments in technology companies.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Not publicly disclosed.
What's Next for Lyft?
Lyft's future looks promising with its recent expansion to cover 95% of the U.S. population and its strategic partnership with Alphabet's Waymo for self-driving technology. This collaboration opens up significant opportunities for growth, leveraging Alphabet's resources and expertise. The $1 billion funding round led by CapitalG underscores the financial backing and market confidence in Lyft's potential.
As Lyft continues to innovate, future fundraising opportunities seem likely, especially with the precedent set by the recent successful round. However, the company will face challenges, including legal battles and technological hurdles in deploying autonomous vehicles. Maintaining market share in a competitive industry will also be crucial for Lyft's sustained growth.
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